INDI
indie Semiconductor, Inc.

indie Semiconductor, Inc.INDI

Technology · Semiconductors
1.81USD
+33.58%
Nov 08, 2026
INDI overview ready
Fabless supplier of multimodal ADAS sensing SoCs and perception software
Automotive-focused fabless supplier of mixed-signal SoCs, sensing processors, photonics, and perception software used in ADAS, vehicle sensing, connected-car interfaces, and selected electrification applications.
Primary theme is lagging
Edge AI & Embedded Processors is lagging (-14.1pp vs SPY over 21 sessions; 1 of 5 members ahead of SPY).
Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Fair valuation
The price broadly reflects how its multiples compare with businesses of the same kind, with upside and risk reasonably balanced.
Solid fundamentals
Ev / sales is strong.
Primary risk
Failure to achieve free cash flow breakeven.
Market Nov 6Filing Sep 30Price action Nov 7Research Aug 21

Conviction Level

PriceAction1.4BusinessPerformance7.0BusinessQuality2.4Valuation3.9ThemeMomentum1.0Improving — Revenue growth has accelerated across 4 consecutive quarters, rising from 0.0% to +31% year over year. The company is still loss-making: the diluted loss per share narrowed to -$0.18 from -$0.19 a year earlier. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−14.1pp
Theme return
−19.1%
Beating SPY
1 of 5
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$385.2M
Avg Volume (60D)
6.0M
60 sessions
Revenue Growth YoY
+0.3%
FY2025 vs FY2024
Gross Margin
-26.6%
Operating Margin
-59.3%
Trailing twelve months
Free Cash Flow Yield
-25.1%
Distance from 200DMA
-48.0%
P/E
N/M
EV / Sales
2.7x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Improving

Revenue growth has accelerated across 4 consecutive quarters, rising from 0.0% to +31% year over year. The company is still loss-making: the diluted loss per share narrowed to -$0.18 from -$0.19 a year earlier.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthAccelerating
+31%
$70.2M in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. 0.0%
  2. +2.6%
  3. +24%
  4. +31%
Earnings growthLoss narrowing
-$0.18
Diluted EPS -$0.18 vs -$0.19 a year earlier · GAAP
Too few comparable EPS quarters: a loss or a turn to profit has no meaningful percentage.
Operating marginExpanding
-55.5%
+15.9 pp YoY
The business is consuming cash
The share count is rising

Business Quality

2.4 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

The available comparisons disagreed; the peers comparison is the more reliable method for this business and the others are published as dissent.
indie Semiconductor, Inc. has a Fair valuation stance because the price broadly reflects how its multiples compare with businesses of the same kind, with upside and risk reasonably balanced.

What changed

  • INDI rose 33.6% in one session
    INDI closed +33.6% while the broad market was close to flat (+0.3%).
    2026-11-06

Company Research

Thesis
Automotive-focused fabless supplier of mixed-signal SoCs, sensing processors, photonics, and perception software used in ADAS, vehicle sensing, connected-car interfaces, and selected electrification applications.
Opportunity
Moderate opportunity
Rising safety requirements, ADAS feature penetration, and increasingly software-defined vehicle architectures drive demand for automotive-grade radar, vision, lidar, ultrasonic, sensor-fusion, and edge-perception silicon and software.
Key risk
Failure to achieve free cash flow breakeven.

Economic classification

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Business & Markets

Technology · Semiconductors
What they do

Indie Semiconductor designs, develops, manufactures, and markets automotive semiconductors and software solutions focused on advanced driver assistance systems, autonomous vehicles, connected cars, and electrification applications.

How it earns

The company generates revenue primarily through the sale of integrated circuits and related semiconductor products to automotive OEMs and suppliers.

Products & services
Mixed-signal system-on-chips (SoCs)
Ultrasonic sensors
Radar sensors
Front cameras
Perception software
Customers & end markets
Automotive original equipment manufacturers (OEMs)
Automotive Tier-1 suppliers
Market position

Automotive-focused fabless semiconductor supplier positioned as a challenger in ADAS sensing and perception markets.

Demand drivers
Medium cyclicality

Automotive semiconductor demand is influenced by vehicle production cycles and technology adoption rates.